New Delhi: The government on Wednesday announced the extension of the Production Linked Incentive (PLI) scheme for textiles until 2033-34 for companies approved under its fourth round, while easing eligibility norms to widen participation and attract fresh investments in the sector. ET was the first to report on October 27 on proposed extension of textiles PLI scheme for four years.
The textiles ministry reduced the minimum turnover requirement under Part 2 of the scheme, which covers manufacturers with lower investment commitments, to ₹100 crore from ₹200 crore. The change is aimed at enabling greater participation by MSMEs. The scheme was originally set to run until 2029-30.
“The extended tenure is intended to provide these applicants with a longer investment and operational horizon for establishing and scaling up their manufacturing capacities,” the ministry said in a statement.
The ministry will reopen the application portal from November 1 to December 31 for companies seeking incentives to manufacture man-made fibre (MMF) apparel, MMF fabrics and technical textiles.